On Show 05 July 2008: Anna Street, Ludwigsdorf

It’s different. It’s unique with a picture book setting. It’s special
Architecturally designed split level in a country setting with you own game & bird park on your doorstep.
Very quiet popular V.I.P. side street with total privacy.
All rooms spacious, with lots of beautiful wood finishes.
Domestic quarters.
Very special: a fairytale secret garden for ladies afternoon teas.

Click here to view this listing online

On Show 28 June 2008: Zenobia Street

Saturday 28 June 2008 – 10:00 to 16:00

A newly renovated northfacing family home. Warm & sunny with quality finishes.
Big kitchen with scullery leads to very spacious family room and enclosed glassed verandah with braai. An ideal setting for sunset entertainments with view over Windhoek.
3 – 4 bedrooms, sunken lounge, pool.
2 BACHELOR FLAT’S, study, storeroom, double garage, 3 carports, laundry. Air-conditioned.
At only N$ 2, 25 Mil CC (valuation) a very realistic price at value for money, not to be missed in this elite suburb.

Click here for a virtual tour

Selling your House? Price it right.

So, you are selling your house or property?

Remember to price it right. No matter what you want, the selling price is usually determined by what the current market (in this case your buyer) is prepared to pay for your property. And a buyer nearly always want’s to know the current actual valuation, and is 99,9% of the time not willing to pay more than the valuation, if even. If possible, get yourself at least one valuation by either a bank or even better, by an independent valuator (usually more market related). And please, do not lie to your agent or your potential buyer about the valuation, all parties concerned will want to see the valuation, and you will only end up shooting yourself in the foot. In most cases, no matter if there is an existing recent valuation, the Banks will send out their internal valuator to value the property when the buyer applies for a loan (the Buyer will have to pay for the valuation).

Remember to look at the condition of your property as well, a neat, well presented property will appeal to a buyer easier and will sell quicker than a property that is not in a good condition. If you cannot afford to or are unwilling to spend money on your property, rather bring your price down to below the actual valuation for a quick sale. Ask an agent to come have a look at your place and tell you what in his / her opinion is wrong or could put people off. Listen to what the agent tells you, and follow the advice given.

Estate Agent shot by ex – husband at open house

A Cape Town based Pam Golding Estate Agent was shot by her ex – husband during an open house and later died from wounds sustained. This once again let’s me think of our saftey during open houses, as something similar can always happen to us. I have been thinking about hiring a security guard for show days to assist.

Immobilien: New Property Manual launched

The IEAN today launched a new property “manual” titled “Immobilien” written and compiled by Mr Jaco Jacobs, a Conveyancing Attorney (Theunissen, Louw & Partners) detailing the ins and outs of property in Namibia. More information to follow shortly, once I have gotten hold of the manual, which is available from the IEAN.

Nedbank: a busy week

Nedbank claims to have had a good week so far in respect of credit applications for Property, so it would seem the market is still active?

Yes. According to other agents, there is still activity, although not all of us can say that we are very busy.

Bank of Namibia: Interest rates stay put

The Bank of Namibia has again decided NOT to up the interest rates in Namibia, thus we are still at 15,25% for now, however there is talk from various Commercial Bank’s (and apparently the BON) that the rates are to increase by at least another 2% before the end of the year, with a gradual decrease to happen from next year onwards.

Interest Rates to climb again soon

Interest Rates to climb another 2% at least this year in Namibia, before we see a slow down.

The current prime interest rate lies at 15,25%, whilst the Bank Rate is at 10,25%.

We are expecting an announcement by the Bank of Namibia this week still on the interest rate situation, but most probably we shall see an increase to at least 15,75%. This will definitely affect our business, which is difficult enough as it is, with high inflation causing people to buy less, as they can afford less. This will obviously also cause problems for many people in terms of their monthly repayment, with a lot of people already putting their houses on the market, we will see a definite increase in the next few months.

Now, this means that we have or will have a buyers market, where people most probably have to sell, and with buyers being able to take their time and have a good look around and then make an offer lower than the asking price, leaving the Seller with not much of a choice but to accept this or face the risk of loosing his house.

Currently, we are not yet seeing so much of a buyers market, with Sellers still clinging to their high prices, wanting more than the market valuation.

Buyers are very conscious of valuations and are usually not prepared to pay more than the market valuation, so if you are considering selling your property in these times, go and get at least one or two valuations by either your bank/s or independent valuators (who usually tend to be better informed and qualified than your average bank valuator).

Welcome

Welcome to my new property blog.

As you may or may not be aware, I am an Estate Agent based in Windhoek, Namibia.

I have been involved with property sales and lettings since 1999, on and off.

Whilst very interesting, it can be very frustrating, and yes, you make good money, but you work hard for it, even more so in these times, this as free advice to those that wish to become Estate Agents.

I will be blogging about the local property industry, all comments welcome.